Affordable housing is boon to economy

5:05 AM,
Oct. 26, 2013

Cathie Dodd

Written by

Cathie Dodd and Robert Trent

Our country is in the midst of an affordable-housing crisis: The gap between the supply of and demand for affordable housing among extremely low-income renters doubled between 2007 and 2011 to 5.6 million, and it continues to grow.

Tennessee is no exception, where 40 percent of renters are spending more than 35 percent of their income on rent - putting them at risk of financial hardship, even homelessness. Renter cost burden is greatest in Madison and Shelby counties, with 46 and 44 percent of renters, respectively, paying more than 35 percent of their income on housing.